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201107128
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201107128
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9/27/2011 9:46:57 AM
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9/27/2011 9:46:57 AM
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DEEDS
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201107128
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�o�io�1�� <br />13. ATotices. Any notice to Borrower provideri for in this Security 7nctn,,,,� � be given by delivering it or <br />by mailing it by first class mail unless applicable law r�uires vse of another method. Tlze notice shall be directed to <br />the Properiy Acldress or any other address Borrower desigoates by notice to Lender. Any notice to Lender sball be <br />given by f�rst class mail to Lender's address stated herein or any address Lender de4ignates by notice to Borrower. <br />Any notice provided for in this Security Instrument shall be deemed to have been given to Bozrower or Lender whe� <br />given as provided in this paragraph, <br />14. Governing Law; 5everability. This Security Instrument shall be governed by Fe�eral la.w and the law of <br />the j�isdiction in which the Property is locate�. In the eve� that any provision or clause of this 5ecurity Instrument <br />or the Note conflicts with applicable law, such conflict shall not affe,ct other provisions of this Security Iasrivment or <br />the Note wluch c�n be giyen effect without the conflicting provision. To this �d the p�ovisions of this Sacurity <br />Instrument and the Note are d�lared to Ue severable. <br />15. Borrower's Copy. Borrowez shall be given one conformed copy of the Note and of this Securixy <br />Instrument. <br />16. Hazardons Snbstances. Bo�ower shall not cause or permit the presence, use, disposal, storage, or release <br />of any Ha�rdous S�bstances on ar in the propert�,, Borrower shall not do, nor atlow anyane else to do, any�thing <br />affecting the Property that is in violation of any Enviranmental I.aw. The preceding two sentences shall not agply to <br />the lnresence, use, ar storage on the Property of sma�l quantities of Hazardous Substances that are generally <br />recognized to he appropriate to normal residential uses and to m�aintenance of the Property. <br />Borrower shall promptly give Lender written notice of any inve4tigation, claim, demand, lawsuit or other action <br />by any govemm:ental or regulatory agency or Private Party involving the Property azid any H�rdous Substance or <br />Environmental Law of which Borrower has actual knowle�ge. If Bonower learns, ar is notified by any governme�tal <br />or regulatorY authoritY, that �y removal or other remediation of any Hazardous Substances affecking the Progerty zs <br />necessary, Borrower shall promptly take all necessary remedial a.ctions in accordance with Environm�ntal Law. <br />As used in this pazagraph 16, ��Hazardous Substances" aze those substances defincxl. as toxic or har�rdous <br />substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic <br />petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos ar formaldehyde, <br />and radioactive materials. As use� in ttus paragraph 16, "Environmental I.aw" me,ans fe�ral laws and laws of the <br />jurisdiction whete the Property is located that relate to health, safety or environmental protec�ion. <br />NON UNIFORM COVENANTS. Bonow� and Lender further covenant and agree as follows: <br />17. Assignment of Rents. Boirower unconditionally assigns and transfers to Lender all the rents and revenues <br />of the Property. Borrower authorizes Lender ar Lender's agents to colle�t the rents and revenues and hereby directs <br />each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior ta Lender's notice to <br />Borrower of Bonower' s br�ch of �y covenaut or agreement in the Security Instrament, Borrower shall collect and <br />receive all rents and revenues of tha Property as trustee for the henefit of Lender and Borrower. This assignment of <br />rents constitutes an absolute assignment and not an assignment far additional sec�ttity onty. <br />If Lender gives aotic� of breach to Borrowet: (a) all rents received by Borrow� sha11 be held by Borrower as <br />trustee for benefit of Lend� oaly, to be applied to the sums se�ured by the Security Instrument; (b) Lender shall be <br />entitled to colle�t and re,ceive all of the rents of the Property; and (c) e�ch tenant of the Properiy shall pay all rents <br />due and unpaid to Lender or Leuder's agent on Lender's written demand to the tenan� <br />Borrower has not executed any prior assignment of the rents and has not and will not perform any act that would <br />prevent Lender from elcercising its rights under this paragraph 17. <br />Lender shall not be required to enter upon, take control of or maintain the Property before or after giving notice <br />of breach to Banower. However, Lender ar a judicially appointed rer,e2ver may do so at any time there is a breach <br />Any applic�tion of rents shall not eure or waive any default or invalidate any other right or remedy of Lender. This <br />assignment of rents of the Property sha11 terminate when the debt secured by the Sect�rity Instrument is paid in full. <br />2200154009 ����D V4NNL <br />ima <br />VMPt�-dN(NE� toao�).o� �e a or e <br />� . <br />
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